Lecta Lock Up Agreement

Compensation of those affected: Ignacio Buil Aldana – Cuatrecasas; Luca Leonardi – Delfino e Associati Willkie Farr – Gallagher LLP; Massimo Palombi – Delfino e Associati Willkie Farr – Gallagher LLP; Francesco Lombardo – Freshfields Bruckhaus Deringer LLP; Giuliano Marzi – Freshfields Bruckhaus Deringer LLP; Beatrice Melito – Freshfields Bruckhaus Deringer LLP; Eugenia Severino – Freshfields Bruckhaus Deringer LLP; Filippo Azzano – Linklaters; Ettore Consalvi – Linklaters; Alvaro Garrido Mesa – Loyens – Loeff; Ignacio Jimenez Guardiola – Loyens – Loeff Madeleine Marques – Loyens – Loeff; Diogo Morgado Filipe – Loyens – Loeff; Anne-Marie Nicolas – Loyens – Loeff; Michael Scott – Loyens – Loeff; Thomas Dean – Willkie Farr – Gallagher; Weston Eguchi – Willkie Farr and Gallagher; Mark Fine – Willkie Farr – Gallagher; Gabriel Flandin – Willkie Farr and Gallagher; Gavin Gordon – Willkie Farr – Gallagher Louis Jambu Merlin – Willkie Farr – Gallagher; Graham Lane – Willkie Farr – Gallagher Paul Lombard – Willkie Farr – Gallagher; Iben Madsen – Willkie Farr and Gallagher; David Mortlock – Willkie Farr – Gallagher Jeffrey Pawlitz – Willkie Farr – Gallagher Charles-Louis Pierron – Willkie Farr – Gallagher Jane Scobie – Willkie Farr – Gallagher Lionel Spizzichino – Willkie Farr – Gallagher Jennifer Tait – Willkie Farr – Gallagher; Ralph Unger – Willkie Farr and Gallagher; In addition to the recapitalization, the Lecta Group has entered into an agreement with NatWest Markets Plc to make available 115 million EUROS for super senior institutions (“New SSF”), which consist of a SUPER senior loan of EUR 60 million and a revolving credit facility for Super-Senior Senior. The SSF`s incremental borrowing capacity provides the Lecta Group with additional liquidity and financial flexibility as it continues to transform into a specialty paper company. Lecta indicated that the majority of the holders of its Senior Secured Notes 2022 and 2023, holders of the majority of the debt under its revolving credit facility (RCF) and the group, have entered into a blocking agreement under which these parties agree to support the implementation of a large-scale recapitalization operation , originally announced on September 24, 2019. The recapitalisation was carried out by the transfer of Sub-Lecta S.A. to be indirectly owned by a newly created British company, which will be known as Lecta Ltd, and the exchange of existing priority secured bonds to new debt and equity to be dated longer. The recapitalisation leads to a significantly improved capital structure for the Lecta Group and will position it strongly during the next phase of growth. In addition, The Lecta Group is pleased to announce that it has reached an agreement with NatWest Markets Plc to provide super senior facilities of 115 million euros – including a Super Senior maturity loan of 60 million euros and a revolving credit facility of Super Senior 55 million euros – to refinance and replace the existing revolving credit facility of 65 million euros of the Lecta Group.

— bella.mark